Loans to Churches | Smart Solution by Griffin Capital Funding
Griffin Capital Funding makes loans to churches nationwide. We specialize in refinance, construction, renovation, and purchase loans. In the past few weeks, we have closed loans in all of these categories. So, we thought that we would share their stories.
A church in Detroit, Michigan came to us for to refinance their loan. Their mortgage note had been sold to a short-term investor that did not want to make loans to churches. They needed to find a new lender quickly, so they came to us. We closed their loan and lowered their interest rate by 2%.
No matter what the reason is for your church financing, we can help!
We closed another loan to a church in Holly Michigan this week. They are constructing a new building from the ground up. The church was smart and came to us early in the planning process. One of the most common mistakes we see in construction is churches spending money before they receive loan approval. To make things easier start with figuring out how much you can afford to borrow. The prequalification process is quick, easy and free at Griffin Capital. Because the church was proactive, their loan closed and they are ready to build their new home.
A church in Miami, FL came to Griffin Capital for a renovation loan. The church has been in its home for 57 years. Their building needed some TLC to update it. They wanted to lay new floors, install a new air conditioning system, and run new audio and video equipment. It was important to close this loan to a church so that they could continue to serve their local community. Now they can do this without worrying about their building.
We also closed a loan to a church in Bowie, MD. The young church was purchasing their first home. They found a condominium in an office building to convert. There would not be much work involved to use the new home to grow their congregation.
No matter what the reason is for your church financing, we can help. We urge all churches to evaluate their needs now. Will you need financing in the next few years? Interest rates are climbing, and they are predicted to rise three times in 2018. The longer you wait to start the church loan process, the more it could cost your congregation in the end. Give us a call to evaluate your needs: 800-710-6762.